The government recorded $3.2 billion (approximately Rwf 4.48 trillion) in investment commitments in 2024, reflecting a significant increase of 32.4% from the previous year, according to the Rwanda Development Board (RDB). The manufacturing sector emerged as the highest investment-generating sector, attracting $1.35 billion. This was followed by the financial and insurance sectors at $811.2 million, and real estate activities, which garnered $377.7 million. ALSO READ: Rwanda records 32% rise in investment in 2024 Together, these three sectors accounted for 77.9% of all registered investments in 2024. Below are some key projects that are shaping Rwanda's investment landscape. Bio Usawa Inc. Bio Usawa Inc. is a privately-held biotechnology company based in Kigali, dedicated to developing and manufacturing high-quality, affordable monoclonal antibodies for patients in Africa and beyond. The company's vision is to establish Africa as a global manufacturing powerhouse for affordable biologics while enhancing healthcare access through innovation and local production. Key therapy areas include oncology (cancer treatment), immunology (immune system disorders), and ophthalmology (eye-related diseases). Parklane Group Ltd Parklane Group is actively involved in Rwanda’s burgeoning real estate and infrastructure sectors. One of its flagship projects is the Parklane Estate, a luxury residential development in Gacuriro, Gasabo District, Kigali City, created in collaboration with Shelter Group Africa, a global construction firm. Additionally, Parklane Group has partnered with Mota Engil, a Portuguese company, in a joint venture to bid for the Kigali Waste to Energy Project, aimed at improving waste management systems in the capital. ALSO READ: India, UAE top Rwanda’s list of foreign investment in 2023 TTEC CX Solutions Rwanda Ltd TTEC is focused on empowering communities by equipping them with essential digital customer experience (CX) skills. Collaborating with local partners, TTEC addresses today’s contact center needs while fostering long-term career paths in underserved communities. Innovations at the TTEC CX Innovation Lab include advanced analytics for customer conversations, AI-enabled personalised learning programs, real-time coaching for representatives, next-generation quality assurance methods, and real-time voice translation to facilitate seamless communication. BasiGo Rwanda Ltd A subsidiary of Nairobi-based BasiGo, this electric mobility company is transforming public transportation in sub-Saharan Africa with sustainable, zero-emission solutions. In December 2023, BasiGo launched Kigali's first 100% electric bus, the R10 Rumuri, and plans to introduce 28 additional electric buses between April and May 2025, contributing to a commitment of deploying 100 electric buses across Rwanda by the end of 2025. The facility will feature a 1 MW power capacity, capable of charging over 25 electric buses overnight. ALSO READ: Rwanda foreign private capital inflows up by 34% Rio Tinto Exploration Rwanda Ltd A subsidiary of global mining leader Rio Tinto, the company entered a strategic partnership with the Government of Rwanda in 2024 to explore the country’s mineral resources, focusing on lithium, tin, tantalum, tungsten, and related metals. This multi-year initiative aims to enhance Rwanda's mining sector and stimulate sustainable economic development. The partnership includes a joint venture with local firm Kinunga Mining Ltd. and British company Aterian PLC, targeting a 2,750-hectare area in Rwanda's Southern Province, where nineteen pegmatite zones hint at potential lithium wealth. Rio Tinto may invest up to $7.5 million, potentially acquiring a 75% stake in the exploration license. National Cement Holdings Ltd Based in Kenya, National Cement Holdings Ltd. acquired a 99.94% stake in CIMERWA Plc, Rwanda's sole integrated cement producer, for approximately $85 million in January 2024. Officials said that this acquisition aims to bolster infrastructure development across the region and includes plans for further investment in CIMERWA to enhance production efficiency and reduce cement prices for consumers.
